Why predictions of an imminent economic revolution are overstated
|San Francisco|15 min read
The age of “generative” artificial intelligence has well and truly arrived. Openai’s chatbots, which use large-language-model (llm) technology, got the ball rolling in November. Now barely a day goes by without some mind-blowing advance. An ai-powered song featuring a fake “Drake” and “The Weeknd” recently shook the music industry. Programs which convert text to video are making fairly convincing content. Before long consumer products such as Expedia, Instacart and OpenTable will plug into Openai’s bots, allowing people to order food or book a holiday by typing text into a box. A recently leaked presentation, reportedly from a Google engineer, suggests the tech giant is worried about how easy it is for rivals to make progress. There is more to come—probably a lot more.
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This article appeared in the Finance & economics section of the print edition under the headline “Your new colleague”

From the May 13th 2023 edition
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